What is a commitment?
The commitment for title insurance or, as it is sometimes known, binder or preliminary report, is prepared and issued for the purpose of advising the proposed purchaser or lender of the status of the title before the transaction is closed and committing the title insurer, upon whose agreement to indemnify the transaction ultimately hinges, to issuing a policy. The commitment for title insurance, though it entails insurance, has a strong land informational component, in that it constitutes a detailed composite or profile of the subject matter. This white paper reviews the component parts of the commitment and discusses how to negotiate clearing exceptions and requirements.
Agenda
Faculty
Duane H. Wunsch
Fidelity National Title Group, Inc.
- Vice president and state counsel for Fidelity National Title Group, Inc.’s Wisconsin office
- 30 years of experience as in-house underwriting and claims counsel
- Frequent lecturer to both attorney and non-attorney customer groups
- Regularly conducts training sessions for title and escrow staff
- J.D. degree, Emory University; B.A. degree, University of Wisconsin-Madison
- Can be contacted at 262-796-3852 or [email protected]
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